MOPANI ANTICIPATES OVER $57M PROFITS

By Clinton Masumba

Mopani Copper Mine is expected to record over 57 million United States Dollars in profits by the end of this year, after recording losses in the last few years.

Mopani Copper Mine Chief Executive Officer CHARLES SAKANYA disclosed this during a presentation to Mines and Mineral Development Minister PAUL KABUSWE at Central Offices in Kitwe.

Mr. SAKANYA said the last few years were most challenging for the mining firm especially at the time Glencore was leaving because they had stopped Investments on projected expansions.

He said this resulted in the mining giant losing 352 million United State Dollars in 2019 and 50 million in 2020.

Mr. SAKANYA said the ore reserves are enough to extend the Mine’s life span for another 30 years provided there is more investment for expansion.

And Mr. KABUSWE is impressed that Mopani is slowly finding its feet as it begins to make profits and increase production.

He said Zambians are looking forward to being major beneficiaries of the country’s mineral wealth.

Mr. KABUSWE who is also Chililabombwe Member of Parliament has directed management to put its Commercial Department in order to ensure local contractors and suppliers benefit.

He has directed the mining giant to work professionally and avoid a situation where its operations are politicized.

The post MOPANI ANTICIPATES OVER $57M PROFITS appeared first on .